CarMax (NYSE:KMX) Lowered to “Neutral” Rating by Wedbush

Wedbush downgraded shares of CarMax (NYSE:KMX) from an outperform rating to a neutral rating in a research note published on Thursday, Marketbeat Ratings reports. Wedbush currently has $54.00 price target on the stock, down from their prior price target of $84.00.

KMX has been the topic of several other reports. Stephens cut their price target on shares of CarMax from $81.00 to $74.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Benchmark began coverage on shares of CarMax in a report on Thursday, July 17th. They issued a “buy” rating and a $75.00 price target on the stock. Mizuho cut their price target on shares of CarMax from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Thursday, July 3rd. Truist Financial lifted their price target on shares of CarMax from $72.00 to $74.00 and gave the stock a “hold” rating in a report on Monday, June 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 price target on shares of CarMax in a report on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, CarMax has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

CarMax Stock Performance

Shares of KMX stock opened at $45.66 on Thursday. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.93 and a beta of 1.35. The company’s 50 day moving average is $58.95 and its 200 day moving average is $65.00. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. CarMax has a 52-week low of $42.75 and a 52-week high of $91.25.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, September 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.39). The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $7.07 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. On average, sell-side analysts anticipate that CarMax will post 3.23 EPS for the current fiscal year.

Insider Buying and Selling at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the sale, the executive vice president directly owned 2,779 shares of the company’s stock, valued at $196,308.56. The trade was a 35.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarMax

A number of large investors have recently made changes to their positions in the stock. Redmond Asset Management LLC lifted its position in CarMax by 0.3% during the first quarter. Redmond Asset Management LLC now owns 50,803 shares of the company’s stock valued at $3,959,000 after purchasing an additional 152 shares during the period. Maia Wealth LLC lifted its position in CarMax by 0.6% during the first quarter. Maia Wealth LLC now owns 26,099 shares of the company’s stock valued at $2,034,000 after purchasing an additional 157 shares during the period. Jones Financial Companies Lllp lifted its position in CarMax by 3.1% during the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock valued at $419,000 after purchasing an additional 161 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CarMax by 0.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after purchasing an additional 173 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in CarMax by 5.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company’s stock valued at $262,000 after purchasing an additional 176 shares during the period.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.